Carl Icahn Buys Additional 2.8M Apple Shares Raising Stake to Nearly $4.5B

Icahn.pngActivist investor Carl Icahn has purchased another 2.8 million Apple shares worth some $1.70 billion according to a regulatory filing from Thursday (via The Wall Street Journal). In total, Icahn now owns more than 7.5 million shares of Apple, bringing his stake to almost $4.5 billion.

Icahn's investment follows Apple's April announcement of a dramatic increase in its share repurchase authorization to $90 billion, up from $60 billion. Apple will also implement a 7:1 stock split in June and plans to return more than $130 billion to shareholders under its capital return program by the end of 2015.

Prior to Apple's announcement, Icahn had pushed Apple to increase its stock repurchasing program in a meeting with CEO Tim Cook. Icahn abandoned a legal effort to have shareholders recommend an increased share repurchase in February after Apple repurchased $14 billion in stock following its January earnings call.

After Apple announced its boosted stock repurchasing plans, Icahn said he was "extremely pleased" with the company's results, noting that the stock was still "meaningfully undervalued."

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23 weeks ago
I was so missing that photo of his

/s
Rating: 28 Votes
23 weeks ago
He is like a parasite.
Rating: 12 Votes
23 weeks ago
why do people always complain so much about what MR posts? its just a mac site, so what if it's not related you don't have to read it. Move on to a different site.
Rating: 11 Votes
23 weeks ago

Another great bottom-feeding story, good job MR! That's twice today. First you publish the delusional ramblings of Claim Chowdry, then this pompous jerk. Gotta get those clicks!


The last time I checked, the site whose name is "MacRumors" covers topics that involve apple and everything involving apple. You complain about the story and the site trying to garner clicks, yet you click and comment on the article. No one has forced you to come to this site and no one forces you to click on anything that you didn't find relevant. Have a lovely day, hope you have a better one tomorrow where you aren't so easily irritated about nothing.
Rating: 11 Votes
23 weeks ago
"Activist investor" is my favorite individual position, just ahead of "analyst" in terms of professionalism and legitimacy.
Rating: 9 Votes
23 weeks ago

why do people always complain so much about what MR posts? its just a mac site, so what if it's not related you don't have to read it. Move on to a different site.


No matter how much you or I say that, people will always continue to complain.

People are so miserable. It's sad.
Rating: 7 Votes
23 weeks ago
He should have just purchased beats.
Rating: 5 Votes
23 weeks ago
What does this guy want? A seat on the board?
Rating: 4 Votes
23 weeks ago
I find it interesting so many people here "accuse" a capitalist for being a capitalist and an investor for being an investor. One that avails himself of many of the levers of free speech as allowed for within the investing world. This is not a judgement of his character by me because I claim so long as he is acting as a capitalist and investor his character should not be questioned for those actions.

As for AAPL being undervalued, it is below the prior high of $705 (pre-split, $100 after split). Further it has a PE ratio right now of 14. For a while it was close to 10, and when it gets to 20 or so you probably should taper off your holdings.

You do have holdings, don't you? Hmmmmm?

Rocketman
Rating: 3 Votes
22 weeks ago

What does this guy want? A seat on the board?

Probably more money, like all investors.

Smart people will follow by doing similar investments as Mr. Icahn.

The bitter people will log on forums and complain about others making more money then them.
Rating: 3 Votes

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